AKRON (Dec. 19, 2001)—Yokohama Tire Corp. and Kumho Tire USA have joined the growing ranks of companies planning to increase tire prices in the near future.
Yokohama said it will increase prices on all its commercial and consumer tires early in 2002, beginning with a 2.5-percent increase Jan. 1 on off-the-road tires. On Feb. 1, Fullerton, Calif.-based Yokohama said it plans a 3-percent increase on medium radial truck and light truck commercial tires and a 4-percent hike on high-performance, passenger and light truck tires.
Fontana, Calif.-based Kumho said it will raise prices 4 percent on passenger and light truck tires and 3 percent on medium truck tires effective March 1. Both tire makers cited increased production costs as a reason for the hike.
Other manufactures that previously announced price hikes include Goodyear, Michelin Americas Small Tires, Bridgestone/Firestone and Cooper Tire & Rubber Co.